Ctrack Belgium: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Ctrack Belgium
Largest movements
- Cash +€114,690
up €114,690 (+120%), from €95,691 to €210,382
mainly Net result for the year (+€121,446) and Receivables within one year (+€17,052)
- Receivables within one year -€17,052
down €17,052 (-27.8%), from €61,384 to €44,331
of which Trade receivables: -€16,979
- Stocks and contracts +€5,941
up €5,941 (+101%), from €5,889 to €11,831
- Profit (loss) carried forward +€121,446
up €121,446 (+47.0%), from -€258,642 to -€137,195
- Trade debts -€18,472
down €18,472 (-46.3%), from €39,873 to €21,401
- Gross operating margin -€7,226
down €7,226 (-5.2%), from €138,525 to €131,300
- Write-downs +€7,091
up €7,091 (+1,401%), from €506 to €7,597
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,974 | €270,085 | +€103,110 | +61.8% |
| Fixed assets | 21/28 | €4,010 | €3,541 | -€470 | -11.7% |
| Tangible fixed assets | 22/27 | €4,010 | €3,541 | -€470 | -11.7% |
| Other tangible fixed assets | 26 | €4,010 | €3,541 | -€470 | -11.7% |
| Current assets | 29/58 | €162,964 | €266,544 | +€103,580 | +63.6% |
| Stocks and contracts in progress | 3 | €5,889 | €11,831 | +€5,941 | +101% |
| Stocks | 30/36 | €5,889 | €11,831 | +€5,941 | +101% |
| Amounts receivable within one year | 40/41 | €61,384 | €44,331 | -€17,052 | -27.8% |
| Trade receivables | 40 | €61,273 | €44,294 | -€16,979 | -27.7% |
| Other amounts receivable | 41 | €110 | €37 | -€73 | -66.1% |
| Cash at bank and in hand | 54/58 | €95,691 | €210,382 | +€114,690 | +120% |
| Total equity and liabilities | 10/49 | €166,974 | €270,085 | +€103,110 | +61.8% |
| Equity | 10/15 | -€158,642 | -€37,195 | +€121,446 | +76.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€258,642 | -€137,195 | +€121,446 | +47.0% |
| Amounts payable | 17/49 | €325,616 | €307,280 | -€18,336 | -5.6% |
| Amounts payable after more than one year | 17 | €277,202 | €277,202 | = | 0.0% |
| Financial debts | 170/4 | €277,202 | €277,202 | = | 0.0% |
| Amounts payable within one year | 42/48 | €45,932 | €27,613 | -€18,319 | -39.9% |
| Trade debts | 44 | €39,873 | €21,401 | -€18,472 | -46.3% |
| Suppliers | 440/4 | €39,873 | €21,401 | -€18,472 | -46.3% |
| Taxes, remuneration and social security | 45 | €6,059 | €6,211 | +€153 | +2.5% |
| Taxes | 450/3 | €6,059 | €6,211 | +€153 | +2.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,482 | €2,465 | -€17 | -0.7% |
| Remuneration, social security and pensions | 62 | €1,081 | €0 | -€1,081 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,417 | €1,470 | -€947 | -39.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €506 | €7,597 | +€7,091 | +1,401% |
| Gross operating margin | 9900 | €138,525 | €131,300 | -€7,226 | -5.2% |
| Operating profit (loss) | 9901 | €134,522 | €122,233 | -€12,289 | -9.1% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €885 | €803 | -€82 | -9.2% |
| Recurring financial charges | 65 | €885 | €803 | -€82 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €133,637 | €121,446 | -€12,190 | -9.1% |
| Profit (loss) for the period | 9904 | €133,637 | €121,446 | -€12,190 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €133,637 | €121,446 | -€12,190 | -9.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.